Tag: Growing a Business

How to Overcome the Challenges of Increasing Insurance Rates
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With today’s emphasis on corporate transparency and accountability, an organization’s directors and officers face countless exposures. Regardless of your company’s size or mission, the legal costs associated with a lawsuit can be crippling for both the organization and your directors and officers. Many wrongly assume that directors and officers (D&O) insurance is only necessary for publicly traded companies. However, privately held organizations can just as easily fall victim to lawsuits that can impact the company, its officers, and board, making D&O insurance a must.

Some benefits that D&O insurance can offer to privately held companies:
- Coverage for manufacturing or production flaws
- Legal cost reimbursement
- Coverage for regulatory exposures
- An improved ability to attract new directors
- Peace of mind
Related: Get an insurance quote tailored to your needs!

Unfortunately, these days the D&O marketplace has been severely impacted by the COVID environment, causing rate increases, more stringent underwriting, and a decreased capacity in the marketplace. An example is below us after being presented with a $140,000 increase (111%) on a renewal for a $20m D&O policy. We were approached for a second opinion and a last-ditch effort for the insured as the policy was set to expire within 48 hours. If no other options existed, the insured would be forced to reduce their limits to bring their renewal premiums to an affordable level.

Part of the problem was that along with a difficult marketplace, the insured’s underperforming financials also played into this large increase. The current broker had collected a renewal application and financials but had no further discussions with the insured before taking the account to market and coming back with a quote.

When Bryson asked the insured what their financial outlook was for the next 12-18 months, the insured noted that they had finished a recent capital raise and a seven-figure sum would be received by the company in the next month. Further discussions revealed an updated business plan for the coming year and data regarding their current investors, of which many were accredited.

The current broker made an egregious error in the renewal process by not collecting relevant data that we knew would make a major difference in marketing efforts. D&O rates hinge greatly on the insured’s financial standing and an underwriter’s ability to determine how well the company will perform over the life of the policy term.

The solution was to approach the insurance carriers with the full financial outlook of the company, along with a strong relationship with a newer D&O carrier that focuses on private equity-backed businesses and provides aggressive rates based on their faith in the PE firm’s due diligence process, this saved the insured over $150,000 on their renewal while providing a full $20m in limits, which had been reduced to $15m on their original renewal quote.

Although the insured was not private equity-backed, we uncovered that this carrier would consider companies with accredited investors. With new, positive financial details and an aggressive carrier willing to consider our risk, we went to work to put a deal together in under 48 hours.

Takeaways
1. An application and financials do not tell your full story
2. Partner with a broker who will be your advocate with underwriters and understand D&O insurance specifically
3. Make sure your broker has strong relationships with carriers who have an innovative outlook
While many private companies do not believe that they need D&O insurance, this can cause a very dangerous outcome. D&O lawsuits can occur without warning and easily reach six figures, draining the personal assets of a company’s leadership team.

If you want to learn more about D&O insurance to protect your company and your leadership team, contact Bryson at info@brysonfinancial.com.

Get a business insurance quote tailored to you today!
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Trent Bryson

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November 3, 2022
How to Set Measurable Goals and Achieve Maximum Success
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As an entrepreneur or business leader, there are myriad reasons why you should care about goals: They help lead you in the right direction for your vision; they motivate teams and hold them accountable; they help leaders make decisions, clarify priorities and eliminate day-to-day distractions.

But most importantly, the measurement of goals will help you track progress and explain the direction of your business to funders and other opportunities for financial capital — and the best way to do this is to include goals in your strategic plan.

A strategic plan captures and communicates your goals to various audiences. The strategic planning process includes a document that summarizes your vision for the future of your organization and lists the goals and objectives to reach that vision. The result of this process is not only meeting the goals you were seeking, but also achieving greater organizational capacity, hitting your mission, generating greater revenue and being more financially secure. Here’s how to do it right.

Related: How To Create A High-Performing Strategic Plan

A common challenge with goals

You’ve likely been hearing about goals since you were a kid. They’ve been taught and promoted to you by your teachers, counselors, coaches, bosses and so on.

As a result of all of the different inputs, you have likely learned different definitions of goals. In fact, I bet that if you ask members of your team to define a goal, then you’d get a variety of different answers — and that’s a major problem.

One of the challenges that I frequently encounter as an obstacle to successful strategic planning is the varying definitions of goals that team members have. When your team members define goals differently, they approach goals and performance with different perspectives and ends in mind.

So let’s get everyone on your team on the same page with a common definition of a goal.

I take my goal-defining guidance from the world of sports. In soccer, for example, a goal happens when the ball crosses over the goal line. In hockey, a goal is scored when the puck crosses the line. There are numerous other sports examples, but all of them provide crystal clarity for when a goal is scored.

Applying this concept brings me to the following simple definition of a goal: a specific and measurable desired achievement.

Related: A Guide to Goal Setting

How to write strong goals

You may be familiar with the well-known SMART mnemonic acronym for writing goals:
- S: Specific
- M: Measurable
- A: Accountable
- R: Relevant
- T: Time-bound
Over the years, I’ve found the SMART acronym to be quite useful. My definition above highlights the specific and measurable elements of the SMART acronym.

Most of the time, the “A” in the acronym refers to either “achievable” or “attainable.” While that works, I think “accountable” (or even “assignable”) is stronger. All too often, I see teams create goals that don’t have people identified as being accountable to them. And, not surprisingly, the goals don’t get completed.

Regarding the “R,” as in “relevant,” your goal should be taking you in the direction of a long-term vision.

One other thing: I like to add a “goal topic” to the beginning of goals on a strategic plan since it helps readers get a quick idea of what the goal is about. For example, when setting a goal of receiving a specific score on a staff survey, I’d use the goal topic of “staff engagement.”

When developing your goals for your strategic plan, ask yourself the following questions:
- Is it specific?
- Is it measurable?
- Does it have accountability?
- Is it relevant?
- Is it time-bound?
You’ll know you’ve got the right goals for your plan when the answer to each of those questions is “yes.”

Related: Define Your Short-Term Goals With These 3 Components for Long-Term Success

Goal guidance for your strategic plan

There are two different types of goals that you can develop for your strategic plan: results goals and process goals. Results goals are accomplished when a specific metric has been achieved. Process goals lead to the completion of a plan, process or system.

That said, you may be wondering about how you can measure process goals. Those goals are complete when you have a documented process in place. Sure, it’s not a number, but it’s still a measurable achievement.

This leads me to a very important piece of guidance. Several years ago, I started to notice that organizations I worked with that were really succeeding in strategic planning utilized a high percentage of process goals. In other words, they created and achieved goals that helped them develop capacity-building processes. So, be sure to consider including process goals in your strategic plan if you want to create the changes you’re seeking.

I recommend having goals on your strategic plan that are organization-wide that have a completion timeline of several weeks to one year. You can also list action items, the individual tasks of the larger goals, that will take a shorter amount of time to complete.

In summary, it’s critical that you and your team have a common approach to how you write strategic goals. This guidance will help your organization solidify its strategic plan and achieve greater success.
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Eric Ryan

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November 3, 2022
What Not to Do When Marketing a Web3 Product

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Despite being a disruptor to the old order of web apps in principle, Web3 success still relies a lot on traditional marketing. The word about these products needs to get out somehow, and the only way they can get out is through marketing.

To an extent, this means that a product lives and dies on the strength of its marketing. It does not matter how innovative or genius a product is: if word about it does not get to the people who need it, it will die in ignominy. Perhaps if the idea behind the product is genius enough, someone else will inevitably pick up the idea and market it better.

We have seen that happen many times in tech history, and there is no doubt that it could also happen today. Myspace, for example, lost to Facebook for a lot of reasons. But one of the reasons was that Myspace was not getting into the consciousness of people fast enough. Of course, Myspace eventually tried to fight that, but they eventually lost. They did all the wrong things marketing-wise, and their loss was almost inevitable.

The same goes for Web3 products. It is easy, and perhaps true, to say that Web3 is the future. But what’s not easy to say is what products will dominate that future. Friendster and Myspace were all first movers in Web2, but all of them died before Web2 became the future. This goes to show that it’s really not about first movers, instead, it’s about the ones who survive. That is why it is important to learn from the marketing failures that riddle failed products and avoid doing them.

Related: If You Have No Clue What Web3 Is, You’re Not Alone. Here’s a Breakdown of the Future of the Internet.

Don’t experiment too much

Many marketers fall into the trap of experimenting too much with Web3 marketing. They fall into this trap because they assume that since Web3 is somewhat experimental and new, Web3 marketing should be the same — but that’s not true. There is no reason why the marketing of a product should model the product itself. Aside from that, there is little reason to disrupt marketing itself. Traditional marketing works, and it works well.

Even if you are going to have a policy of disrupting marketing, as it were, it is important to do this with the aid of research. A lot of the Web3 products coming online these days are startups, which means they could be living on borrowed time. It is unwise to experiment with the future of those fledgling products by just throwing whatever at it and hoping something new and radical sticks. It’ll probably fail and may lead to the death of the company.

Don’t use influencers first

Influencer marketing works — that’s probably the first thing you should know. If you want a critical mass of people to sign up or purchase your NFTs or tokens quickly, then it’s probably smart to get an influencer to market for you. But here is the thing; influencer marketing is 100% a grenade. Suppose you know how to use a grenade, good for you. However, if you don’t know how to use it and try to use it, you may end up blowing yourself up. 2020 and 2021 saw the rise of Web3 products using influencers to scale. But do they work? ‘Or did they eventually blow up?

Well, according to a Visual Objects survey, not really. Most people are starting to realize that influencer marketing is inauthentic. This is an especially important thing to note if what you are selling, in essence, is risk and profit. People do not listen to people without skin in the game when it comes to taking risks. They understand that influencers do not have skin in the game, and are then less inclined to take advice from them.

Here is the thing, Web3 influencing is a dying market. Shortly, scandals like the Kardashian fiasco will cause governments to clamp down on influencer marketing. That is why product leads and heads of marketing must be very careful before choosing to step into the river of influencer marketing. It is a tool that works, but it is a tool that must be used carefully. If not, it can cause more harm than good.

Related: How to Prepare Your Brand for Web 3.0 Marketing

Don’t overspend

One of the biggest mistakes you can make in marketing is assuming that a huge marketing budget means effective marketing. Many times, companies spend a chunk of their budget on symbolic but ineffective ads, such as huge billboards or an ad slot during the Superbowl. But spending big in itself does not guarantee success — grassroots efforts that reach out to your market directly can be more effective than a billboard in every airport.

Don’t be too shy to ask for help

Web3 founders are fond of doing everything themselves. From raising money to running the day-to-day business, they have a lot on their plate.

This spills over to marketing and public relations, too — but marketing isn’t as easy as it might seem. When projects and even celebrities and influencers post something on social media, a lot of time and effort went on behind the scenes to make sure the post read exactly the way it needed to be read as far as messaging, content, SEO and target audience.

There is a lot that goes into this, which is why marketers get paid big money. It helps to hire a marketer part-time just to see what they do, or even vet a few agencies to see what they offer.

Sometimes, it’s as easy as being pointed in the right direction. Don’t waste anyone’s time, but take a closer look at the nuts and bolts of things. What are the individual components that may even be involved? What do you need to learn about? Does the marketing agency offer SEO? Well, now you know that’s something you need. Go research it or you can schedule a consultation with a marketing team — $300 may seem like a lot of money to pay for an hour or two of education, but that’s all it really takes for a workable strategy to form.

I often brainstorm 90% of my marketing plans on the very first call with my clients. We’ve done it over and over again, and we can see how your product fits into the audience as easily as you can see how your product fits into the market. The point is to find some way to get a second opinion, and you’re well on your way.

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Kurt Ivy

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November 2, 2022
How Data Analytics Can Help Your Startup Achieve Success
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Data analytics is one of the most important tools that startups can use to help them succeed. In this article, we will provide a practical guide to using data analytics to help your startup achieve its goals. We’ll cover topics like identifying key data points, analyzing data and making informed decisions. By the end of this article, you will have everything you need to start using data analytics to help your startup achieve success. So, let’s get started!

What are the benefits of using data analytics for startups?

There are many benefits to using data analytics for startups, and here are just a few:
- Data analytics can help you identify patterns and trends in your data that you wouldn’t be able to see otherwise. This can help you improve your product or service in ways that you never thought possible.
- Data analytics can also help you identify which areas of your business are most profitable and which ones need more attention. This can help you prioritize your resources accordingly, making sure that you’re investing in the areas that are most likely to succeed.
- Data analytics can also help you track user behavior and determine what kind of feedback they give you. This helps you create better products and services that meet their needs and expectations.
- Finally, data analytics can help you measure the success of your company both short-term (in terms of revenue) and long-term (in terms of customer retention).
Related: Data Analytics Are Invaluable to Your Business. Here’s Why.

How to get started with data analytics

If you’re looking to increase your startup’s success, then data analytics is a key tool you need to have in your arsenal. As stated above, data analytics can help you understand and optimize your business processes, identify and correct any issues early on and improve customer retention rates. It can also help you create better marketing campaigns and track the progress of your products and services.

There are a few things you need to keep in mind when using data analytics for startups:
- Start by identifying your data projects and their respective business goals. What are you trying to achieve? What kind of data will help you achieve those goals?
- Make sure all the data you use is accurate and up-to-date. If it’s not, then it’ll be useless in helping you reach your objectives.
- Work with a data analyst who understands startup processes and can guide you through the analytical process step by step.
How to identify key data points

In order to increase startup success using data analytics, you need to identify key data points that will help you improve your business. There are a number of ways to do this:
- Use surveys or interviews to gather feedback from users and customers about their experience with your product or service. This will help you measure how well it meets their needs and what areas you need to focus on in order to improve it.
- Monitor social media platforms like Twitter and Facebook to see what people are saying about your product or service. This will give you an idea of whether people are happy with it or not and which areas might need improvement.
- Analyze the financial data of your company in order to understand how well it’s performing financially. This will give you an idea of whether there’s potential for growth or if there’s a more pressing issue that needs addressing first.
- Collect sales data from retail outlets where your product is sold in order to get an idea of how much demand there is for it. This will help you decide whether marketing efforts are effective or if there are other strategies that would be more successful in reaching more people.
Related: Why Data Analytics Can Help Drive Sales For Your Business

How to use data analytics effectively

There are a number of different ways to use data analytics to improve your startup’s performance. Some common techniques include:
- Data mining: This involves extracting valuable information from large data sets by using special algorithms. This can help you find patterns and insights that you wouldn’t be able to see otherwise.
- Forecasting: This is the process of predicting future events based on past data. It can help you make informed decisions about marketing campaigns, pricing strategies or other strategic decisions.
- Performance monitoring: This allows you to track key performance indicators (KPIs) over time to identify areas in which your company is performing well or not well. This can help you make necessary changes to your strategy in order to improve results.
- Insights reports: These provide a detailed analysis of specific aspects of your data that can help you make better decisions.
5 tips for making data analytics work for your startup
1. Make a data-driven culture part of your startup from the beginning.
2. Don’t be afraid to experiment with different data analysis tools and techniques.
3. Be sure to collect and track the right data for your startup’s needs.
4. Keep your data analyst team small and nimble for maximum agility.
5. Use data analytics to inform every decision made in your startup, from product development to marketing to sales.
Related: Data Analytics Should Become Part Of A Company’s Culture

To sum up, data analytics is a powerful tool that can help your startup understand its market better and get you to the top. However, it is important to invest in the right tools that can take your analysis process further. In case you are running low on funds or time, we have curated a list of data analytics tools to equip your startup with everything it needs.

If you’re ready to take the next step, all you need is a few months of hard work and dedication. You can then start tracking your every move with data analytics in order to find trends that will help you achieve stellar results!
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Piyanka Jain

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November 2, 2022
3 Simple Reasons to Add Technology to Your Non-Tech Business

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You are a business owner but aren’t in the tech industry, so why would you need to focus heavily on adapting technology in your daily workflow? Some people may say you don’t need to. However, I’m here to put a bug in your head and prove how technology is critical to any business across any vertical. And that includes you!

We know technology can be intimidating. It also can be complex, and there are seemingly endless options. So, is it worth the cost, integration headaches and question if you are picking the right ones? Yes! Here are my top three reasons to focus on technology, and I’ll explain how to integrate it into your business:

1. Not applying technology means you could face a technology deficit

Let’s face it, not having a line item in your books for technology and software subscriptions means your company will hit a point where you can’t grow any further. Whether your marketing team will be missing major data points for essential customer acquisition or your efficiencies will eventually put you behind, your competition could pass you by (we’ll get to this one more in the next point). No matter the roadblock you will hit, the point is your growth will have to slow down or halt. You don’t want to wait until that point to use technology once the train has left the station without you!

Related: 5 Types of Technology All Entrepreneurs Need Access to in the Digital Age

2. Results are everything

No matter your business or vertical, your most valuable resource is your team. How can you empower your team to work smarter, not harder, and ultimately produce the best results? The answer is with the right technology! Even if your staff has been set in their ways and doesn’t want to learn a new program, you must pick the right operational systems and offer proper training. A minor setback in the learning curve will mean a huge uptick in productivity.

I once ran into a mid-sized company that was technologically behind due to not prioritizing this aspect of its business. This inadequacy caused marketing and sales to lag compared to its competitors. I likened their technological powers and abilities to taking a knife to a gunfight.

If a company can increase its operational automation in the marketing space, that would allow it to understand its target customer and truly understand how to sell to its market in an efficient and results-driven way.

A data warehouse and congruent CRM would allow this business to properly segment and hit goals for its best marketing demographic more accurately. Identifying, understanding and addressing low-hanging fruit, such as abandoned shopping cart funnels, is crucial.

When you are focused on results, technology almost always needs to be integrated to increase efficiencies and drive sales in the long run. And it’s always easier and cheaper to integrate the right technology early to ensure your team is trained and using it along the way!

Related: How Technology Is Shortening the Road to Fame

3. You’re increasing your footprint of liabilities without the right technology

I’ve seen every range of technology integration, from the tech-savvy millennial CEO who relies on data and analytics for every business decision to the companies that don’t integrate it at all and still use a pen and paper within every significant department. However, if you are closer to the latter, you are potentially putting your team at a huge safety risk. If you have only minimal or wrong technology, you could be putting your customers, reputation and finances at risk too!

I’ve even seen clients using only a single source for major bookkeeping and documentation, like Excel. One wrong move or fat-fingered mistake can change your calculations completely. Or worse, delete everything! If that isn’t risky, I don’t know what is.

Technology can feel overwhelming, which is often why we hear people stay away from adding it to their daily workflow. However, there are simple ways to make that change. Start with finding a company to give you a technical audit — which is often cheaper than you might expect. Take their advice and then apply it in chunks.

You may not need to go from 0 to 100 in the first week. You can slowly add, integrate and manage critical technology into various departments as you feel comfortable. And as I mentioned earlier, a key to tech success is training! Empower your team to take the tech leap with you and work on this together. Everyone can learn a new trick, and it could even be fun! Finally, ensure that you have a base infrastructure to make the ideal environment for success. This includes having the basic technology hardware and compatible systems in place.

Take this article as your sign to take the first step and better your business with tech!

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Craig Ceccanti

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November 2, 2022
Solidarity Without Sameness: The Key To Working Together

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Diversity, equity, and inclusion (DEI) and environmental, social, and corporate governance (ESG) policies are more than just feeling good about ourselves. Diversity drives innovation, and companies that innovate in today’s fast-paced environment are the ones that come out on top. Socially-responsible companies are attracting more demanding consumers. But the more diversity we bring to a team, the more potential for crossed interests and differing opinions about what social responsibility implies, which can quickly escalate into conflict.

This is where building solidarity comes in.

Solidarity is not thinking and behaving exactly the same. It’s rallying support as a team, welcoming and respecting open communication even when opinions are different, and agreeing to the course of action that best considers the company and its people. Fostering solidarity, not sameness, is the key to unlocking the benefits of a diverse team.

Related: Solving Organizational Diversity Is Still an Issue: The Cost Is Steep, But the Rewards Are High

Welcome the benefits of embracing diversity as a team

Everyone has differences, and the more diverse backgrounds, upbringings and histories we bring onto a team, the more opportunities for differences to exist. But from boards and management teams to organizing a charity fundraiser event, embracing group diversity brings more perspectives, ideas and alternatives that spur innovation and improve productivity. Diverse teams focus more on facts and process them more carefully, resulting in smarter decisions.

A 2015 McKinsey report found that embracing diversity also improves the bottom line. Companies in the top quartile of ethnic and racial diversity in management were 35% more likely to have higher financial returns over the industry average; companies in the top quartile for gender diversity were 15% more likely. Diverse teams that work well together outpace the competition.

Companies seek to advance diversity at all levels. Still, for those diverse minds to work well together as a team, they need solidarity — “unity, association, reciprocation, a good community or social interest, gratuity, justice and respect for human dignity.” With a culture of solidarity, companies can more successfully implement DEI and ESG initiatives that reduce social and economic inequality within the organization, improving efficiency, productivity and the company’s reputation.

Related: How Diversity Helped Bring My Company Together

Align everyone around individual responsibilities

Building and encouraging team solidarity requires an established set of values around personal responsibility to contribute to the effort. Sincere acknowledgment and mutual support build a culture of community, which can foster solidarity, but solidarity cannot be forced. It is a co-responsibility for the moral well-being of all others as equal partners on a common mission. Each person with their individual and collective interests needs to embrace solidarity around acknowledging and respecting our differences while arriving at decisions that best serve the collective “we.”

People pick up on culture fast through the example of their leadership, so leaders should demonstrate acknowledgment and support of diversity to build that sense of solidarity in their teams. There are many worlds of thought with which I disagree, but I work hard to respect them and be understanding of the background from which they originate. So much of our foundational backgrounds embed themselves into who we are today. While I can’t even begin to fully understand every person’s background or how they got to where they are, I can at least respect the fact that it played a part in creating them, even when we disagree.

We can also build a community culture by recognizing the dynamic interdependence between all team members, emphasizing the need for dialogue, compassion, and understanding across a team. Start by making sure everyone feels they belong.

We just had our annual meeting, where everyone — those stationed outside Minneapolis and some even outside the country — comes home to the “mothership” to celebrate everything in Clearfield. We start by discussing the upcoming year, host lots of learning during the day and hold parties every evening. Especially in this new hybrid world, bringing everyone together is critical to maintaining their sense of solidarity.

Related: How to Promote Diversity, Equity and Inclusion in Your Workplace

See everyone’s potential equally

When I became a grandma, I developed a new perspective to understand inclusion in the face of diversity better: Look at people as babies. My six-month-old grandson is slightly over 19 pounds, while my 15-month-old is approaching 20 pounds. The older one is small for his age, while the younger one is big. To look at them, they seem totally different. And yet, I look at them as very much the same. They are both my grandsons, with the same potential for growth despite their differences. When we look at babies, whether grandchildren, children, or someone else’s children, we so quickly look at them and see their potential. Each one is equally capable of becoming the next future star performer. If we can see the potential in babies, why can’t we still see it when they grow up to become adults?

As leaders, seeing equal potential in everyone allows us to respect what their differences can bring to the team — as team members, seeing our peers full of potential will enable them to achieve their best for the benefit of the rest of the company. Look at someone and think about whose baby they were. Imagine someone caring for them, praying for them and trying to open doors for them; someone who saw them brimming with potential. Encourage others to imagine the same and help instill diverse teams with a greater sense of oneness and unity.

As former U.N. Secretary-General Ban Ki-moon put it, “A world of peace and solidarity can only be accomplished by acknowledging and celebrating [sic] our diversity.” Diversity and inclusion are more than just inviting people in: We need everyone aligned around creating an environment where people feel comfortable being their authentic selves and bringing those diverse perspectives to the table. Leaders need to build it into their team culture, but it also comes down to individual employees to take on their responsibility. Once someone takes charge, solidarity can quickly start to spread.

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Cheri Beranek

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November 2, 2022
How Texting Customers Could Be the Engagement Tool You Need

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As we head into the home stretch of the 2022 fiscal year, sales teams everywhere are looking to close as many deals as possible. Deloitte expects 2022 holiday retail sales to increase by 4% to 6% from the previous year.

Given inflation, the firm also expects consumers to shop early and take their time finding the best prices. According to GE Capital Retail Finance, consumers spend an average of 76 days researching major purchases, meaning there might be just enough time left in the year for a sales push.

Knowing when and how to contact consumers with an offer or deal is a fine art. Having the right content at the right time and delivered on the customer’s preferred channel is key, especially in the later stages of the customer journey — this is where an omnichannel communication platform comes in handy.

Omnichannel communications — a strategy that uses a combination of websites, apps, social media, phone calls and other ways to reach an audience — have become a necessity for businesses looking to deliver the best experience along the entirety of the customer journey. Leveraging additional platforms such as chat and messaging apps on top of the standard web, social media and app channels provides frequent opportunities to get in front of potential buyers at the right point in their journey.

Related: Redefining Omnichannel: How To Be Where Your Customers Are

For busy consumers juggling a ton of priorities, email is not always the best option for communication. On the other hand, chat apps or texts are quick and literally in their face instantly.

Compared to email, the more personal nature of SMS is one of the leading reasons these messages have an incredible 98% open rate in the U.S., with 60% of those messages being viewed within the first five minutes they are received. Meanwhile, chat apps like Discord, Line, Telegram, Viber, WeChat and WhatsApp are especially popular in countries like Brazil, China, India and Nigeria, where more than 80% of consumers reported using chat apps to interact with brands.

Buyers want a tailored experience as they progress from first hearing about a service or product all the way through to their purchase. Understanding the needs and expectations of busy consumers and communicating solutions to those needs in a time-efficient and effective way can convince them to buy. Chat apps and SMS provide more opportunities to personalize communications with a specific buyer and require less effort on their part to reply than returning an email or visiting a website.

Related: 5 Ways to Use Texting to Grow Your Sales and Marketing

When to leverage messaging

To be clear, a chat app/SMS strategy for engaging your audience should be brought in methodically, and it should never be used to reach out to a net new buyer.

An unsolicited chat or text message can be seen as “spammy” and risks the consumer feeling ambushed on their personal device, ending any potential relationship then and there. Deeper into the customer journey, however, these messages can work wonders once relationships have been established in other ways.

Take the case of a typical consumer sales process. The GE Capital Retail Finance survey found that consumers start researching a product or service online more than 60% of the time, and they visit two to three online sources and a comparable number of physical stores before deciding to buy.

Capturing customer information from website visits or app downloads can provide marketers with a window into their preferred channels. Providing follow-up information, offers or other communications based on their previous activity personalizes the interaction between brand and consumer.

Related: Here’s Why SMS Marketing Is Literally the Best Idea Ever

The power of messaging

For many, SMS is the most powerful engagement tool during the buyer’s journey. According to my company’s research, marketers cited SMS’s primary benefits as real-time delivery, high open rates and global reach/ubiquity of mobile devices. Additionally, marketing professionals plan to use digital communications to support their customer engagement efforts, including forging meaningful connections with consumers, improving accessibility and improving omnichannel communications.

And it works. The same survey showed that 80% of B2C marketers reported SMS performed much better than any other channel, especially for advertising and brand awareness. Additionally, more than three-quarters of marketers who send promotions or offers through SMS reported revenue growth in 2020-21, a time when connecting with consumers was challenging due to the pandemic. SMS might just be the future of marketing — our research showed that two-thirds of Gen Z favor text messages over email when interacting with a brand.

This makes sense. When we want to get a quick note off to a friend or family member, we don’t log into our email and compose a long note — we text them. It is no different for brand engagement. Meeting your customer in the moment with a message that resonates on the device that rarely leaves their side is the most effective way to move the sales forward.

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Sean Whitley

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November 2, 2022
Why You Have to Put Your Money Where Your Mouth Is With DEI
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Opinions expressed by Entrepreneur contributors are their own.
As the old adage goes, “what gets measured gets done.” Historically, the challenge with diversity, equity and inclusion work (DEI) is that it’s perceived as a “nice-to-have” versus a “must-have” with few concrete goals to measure progress. In fact, McKinsey research found that organizations often overburden those marginalized groups to lead the DEI work without additional compensation.

That trend is changing with more companies tying compensation to DEI work. According to the Society for Human Resource Management, between September 2017-18, 51 companies in the S&P 500 included a diversity metric in their compensation program. Between February 2020-21, that number had nearly doubled to 99 companies.

By rewarding DEI work, these organizations are seeing results. When people know that it’s tied to their compensation and performance goals, people see it as a part of their job rather than a hobby outside of work hours. With goals, employees are more likely to prioritize the time spent on education and activities to drive awareness and systemic change.

Related: 5 Reasons Leaders Fail to Transform DEI Rhetoric into Action

Why set DEI goals

Goals are essential for human motivation. The Psychological Bulletin found that 90% of the studies showed that more challenging goals lead to higher performance. Research has shown that people are two to three times more likely to stick to their goals if they make a specific plan for when, where and how they will perform the behavior. The human brain is wired for goals.

Without accountability, goals do not work. It is essential to frame DEI goalsetting as important as any other goal-setting process in business, but there might be initial pushback, as there often is with organizational change. Watch out for these opportunities to advocate for DEI goal setting:
- DEI is not a zero-sum game. By focusing on diversity goals, we grow opportunities for innovation and decision-making in business results.
- The majority group is a part of the solution, not the problem. Decision makers must prioritize DEI for their decisions to support diversity.
- DEI is not political. These are human issues that impact people in the workplace.
The initial pushback can create drama. The more the leadership team emphasizes the importance of diversity and inclusion and how it ties to the organization’s overall strategy, the more people buy in. People often need a starting point for goal setting.

Related: 4 Trackable Metrics to Move the Needle on Diversity and Inclusion Goals

How to set DEI goals

You might be thinking that this sounds hard. Decades of workplace inequity will not be solved overnight. Yet with specific goals, people understand expectations and modify their behaviors to be more inclusive. Setting goals requires specificity, numeric measurement, aspiration, relevance and a deadline.
- Specific: It should be easy to know when the goal has been completed.
- Measurable: There is a number or percentage tied to the goal.
- Aspirational: By definition, goals are not being met today it should be challenging based on the present state.
- Relevant: The individual can influence the outcome of the goal.
- Time-bound: Without a deadline, things don’t get done.
By making DEI goals SMART, employees understand expectations and are held accountable. Without goals or with vague goals, employees are left to wonder why it is important or how to show progress. DEI goal setting often comes with pushback (as with any change).

Here are some starter goals to consider:
- Number of hours on diversity education and training
- Participation in Employee Resource Group (ERG) activities
- Activities to support removing bias from recruiting, hiring, promotion, pay and performance decisions
- Inclusive behavior 360 data from team members
- Leadership roles in DEI and ERG teams
- Participation in community events for DEI
- Teaching time with others about DEI
- Recognition from others of allyship
Related: Want Your Employees To Stay? Be Accountable To Your DEI Goals

As with any goal, thinking about how it fits into what people are already doing makes it easier to accomplish. James Clear, author of Atomic Habits summarizes it best: “You do not rise to the level of your goals. You fall to the level of your systems.”

Bottom line — weave DEI into daily tasks and embed it into how people live already personally and professionally. Break the daunting goal into baby steps with incremental activities throughout the year to support it.

Here are some themes to keep in mind to get your organization ready for DEI goals:
- It’s a journey, not a destination: Set reasonable targets and goals to close gaps in talent, pay and education.
- Make it a part of the performance: Establish KPIs for employees to work on DEI, otherwise, it is simply a “nice-to-have” vs. a “must-have.”
- Engage senior leadership in a consistent, intentional set of actions over the year: This should be a part of every employee meeting and key activity.
- Measure progress: Look beyond representation numbers and dig in holistically about attitudes/perceptions.
- Take education to the next level: Go beyond awareness to tangible activities employees can take action on like addressing bias in systems and accountability.
DEI goals should be a part of a bigger DEI picture. Providing tools and systems to help people hold themselves accountable is pivotal. By focusing on DEI goals, organizations increase their chances of long-term success with DEI — and by investing and prioritizing it now, they will remain relevant for future customers and employees.
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Julie Kratz

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October 31, 2022
Lauren Maillian Shares How to Grow Your Business by Aligning Your Talent With Your Motivation

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If you need help aligning your talent with your motivation so you can grow your business, Lauren Maillian is here to help.

Marta Skovro

Lauren is the definition of an innovative entrepreneur. She co-founded her first business, Sugarleaf Vineyards when she was just 19 years old. That made her the youngest self-made winery owner in the U.S. (before she was even allowed to drink).

At the same time she was working as a model in Paris and Buenos Aires, Argentina. Since then she’s gone on to become a founding partner at Gen Y Capital Partners, an early-stage venture firm focused on investments in mobile and consumer-facing technology-enabled companies.

She’s also founded digitalundivided, non-profit leveraging data, programs, and advocacy to catalyze economic growth for Latina and Black women entrepreneurs and innovators. There’s more but you get the point by now.

She provides more details – and how you can develop the confidence and strategy needed to thrive – in the latest episode of the Launch Your Business Podcast.

I’ll share a few of my favorite takeaways below.

How to figure out if your business idea is a passion or a hobby

Many entrepreneurs start a business based on something they’re passionate about. And while that may sound like a foolproof plan, it’s easy to mistake your passion for a hobby. Lauren gives the example of her friend that enjoys doing hair and is considering opening a hair salon. She then asked her friend how she’d feel if 100 people showed up the next day wanting to get their hair done. Would she feel excited or overwhelmed?

So what does this mean to you and your business?

Lauren goes on to say, “If you had a whole bunch of clients, if you could make a lot of money doing this, would you continue? Would that light you up and motivate you? If not, that’s not what you’re passionate about.”

She also shares why it’s so important to do the deep work required to find your passion. “When life affords us the opportunity to chase our passions while achieving success in doing something that is enjoyable for us, then we get to that point where the timelines don’t matter because you’re just being yourself. And that’s when you can actually really say, I get paid to do what I love.”

Realted: 4 Reasons Following Your Passion Leads to Success

Why having faith in your ability is crucial to your business

I often say self-limiting beliefs will take your chances of success much faster than any external obstacle. Lauren provides more context and shares the impact of not being confident in your abilities.

“Have the faith that you deserve to be there. Have the faith that your skill is enough to get you through. Have the faith that you are qualified to get yourself out of whatever situation you’re in. Because when you feel uncertain it’s seen and felt and reverberates to people around you. They will then begin to doubt all of who you are because they don’t know why you are acting insecure. So make sure that your confidence is unwavering in yourself and your skill when you are in these difficult situations.”

And, it’s important to note there’s a big difference between having confidence and the “fake it till you make it” approach. Let’s say you’re currently on level three out of ten when it comes to your expertise on a subject. That’s fine, just be the most confident and honest level three out there. You’ll earn trust, gain experience and continue ascending.

Lauren’s operational definition of success

How do you define success for your business? The most common answers typically include a combination of time, lifestyle and financial freedom. However, Lauren’s response to that question stood out to me because of the empowerment referenced.

“Success to me is being able to decline opportunities because they don’t align with what you want, and knowing that declining does not change your circumstances in any way. Financial, environmental, in terms of the opportunities that you’re gonna get in the future, any of that.”

She continues, “It’s when you can say to yourself does this align with who I am? Do I wanna do it? Does it make sense to do it? You don’t feel like you’re required to, or have to in order to maintain a relationship. There’s no prerequisite anymore for the next opportunity, other than is it something I wanna do? And ultimately, we know that we are successful when we have the power, the ability, and the autonomy to say no on our own without getting the approval to say no from anyone else.”

Related: 3 Keys to Entrepreneurial Success

Next steps

Ready to get more tactic-level detail on how to find your zone of genius and scale your business? Here are a few more ways to learn from and get inspired by Lauren.

Listen to the full podcast episode

Follow her on Instagram, and LinkedIn

Join her newsletter to stay up to date with her projects and events

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Terry Rice

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October 28, 2022
Drive Product Growth With A Metric That Guides You to Success.
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Opinions expressed by Entrepreneur contributors are their own.
As China continues to crack down on how companies handle user data, it’s time for the business world to think about what exactly they’re collecting and measuring. The country’s strict data privacy laws make it more challenging to store and manage Chinese consumers’ data, but it could also have more wide-reaching ramifications if other countries decide to adopt similar regulations (much like the EU’s General Data Protection Regulation). This will lead to a new digital marketing landscape when it comes to data and metrics.

Not long ago, marketing and growth teams relied on just a handful of metrics to analyze campaigns and measure business performance: revenue, expenses and profit. Then, the internet exploded, ushering everyone into the information age. The rapid proliferation of technology, product development and data-collection methods created a feeding frenzy of sorts.

Marketers and product teams began capturing and measuring anything and everything they could get their hands on. Their intentions were good: They thought if they collected every piece of data available, then voila, those metrics would reveal what was and wasn’t working in their products. In practice, however, they simply created a game of “find the needle in the haystack.” And unfortunately, there’s no winning that game.

When it comes to product growth metrics, more isn’t always better. Having too many metrics is as bad as having none at all. Simply look at the sheer amount of data people generate to understand why. Research estimates that humans collectively will create more than 180 zettabytes of data by 2025. To put that in perspective, that’s equivalent to the storage of 2,587 iPhone 13 Pros per second (1 terabyte model).

Imagine the resources and time it would take to track this much data. Plus, some of the information could be old or obsolete. Other metrics might be readily available but ultimately lack relevance and practicality. In the end, you’re data-rich but insight-poor — not a good position to be in.

Why do you need a North Star metric?

Rather than chasing down any metric that feels remotely related to your product, consider centering your product growth strategy around a singular guiding metric. Just as sailors used the North Star located directly above the Earth’s northern celestial pole to navigate oceans, you can use a North Star metric to align your team around the top-line goal of product growth.

Of course, the sales, engineering, product and marketing teams can still have their own subgoals and metrics. But having that North Star shining brightly overhead keeps everyone moving in the same general direction. Because a North Star metric is focused on overall product growth, there’s a built-in level of teamwide transparency and camaraderie not found in other team-specific initiatives.

However, what makes a North Star metric such an effective measure of success is its intrinsic relationship to users. By definition, a North Star metric is the number that best reflects the value your product delivers to users. Therefore, your teams will always be aligned and working together to grow your product.

Related: Customer Experience Will Determine the Success of Your Company

What constitutes a North Star metric?

So, what exactly is a North Star metric? It’s important to note that revenue isn’t a North Star metric. When you track your product’s revenue, you track how much money you made at the end of the month, quarter or year. Though this is a decent indicator of success, it’s not user-specific. For example, revenue alone can’t tell you how much the average user spends on your products and how long they remain loyal.

In general, there are five categories of North Star metrics:
1. Customer growth: Customer growth-focused North Star metrics include market share and number of paid users, among others.
2. Consumption growth: Consumption goes beyond mere site visits. Instead, think about this category through the lens of product usage, such as messages sent or classes attended.
3. Engagement growth: If your product is an app, you might use engagement metrics — such as monthly or daily active users — to track the number of unique users within a specific time period.
4. Growth efficiency: When comparing the value of a new user relative to the cost of acquiring one, you might leverage metrics around lifetime value and customer acquisition costs as your North Star.
5. User experience: User experience metrics, such as net promoter score, provide data that helps you measure user satisfaction and product experience.
Related: 4 Reasons Sharing Performance Metrics Will Accelerate Your Business

What’s your North Star?

Your North Star metric should be the one that’s most predictive of your product’s sustained success and how users get value from the product. Therefore, it will vary based on your industry, audience, offering, etc. For instance, a fintech product might coalesce around the total assets under its management or daily active users. In contrast, streaming company Netflix uses total hours streamed as their North Star metric.

Of course, the metric you choose must be regularly measurable. It also needs to fulfill two other criteria to be considered a North Star metric: help generate revenue and mirror customer value.

1. Help generate revenue

A metric that doesn’t measure advancement toward goals in a way that informs your next steps won’t be useful at all. So, make sure you can directly tie your North Star metric to product growth. Airbnb‘s North Star metric, for example, is number of nights booked. This reveals platform growth and correlates with the value customers and hosts receive from good experiences.

Just remember that it’s important to balance this criterion with the other two. For instance, if you hang your hat on a money-centric metric to the detriment of customer satisfaction, you’ll ultimately drive users away. On the other hand, you can’t prioritize customer satisfaction at all costs, or you’ll run yourself out of business.

2. Mirror customer value

Your North Star metric needs to encompass what users find valuable about your product. If you fail to understand what they appreciate, then you’ll end up measuring the wrong thing. For instance, users disliked having to log in to Meta‘s virtual reality headset with a Facebook account. Meta was too focused on boosting its social media platform to realize that its audience wanted more flexibility and anonymity.

To define your North Star metric, gather key stakeholders to outline your company’s needs and the value your product adds to users’ lives. Determine whether a metric helps users achieve the intended results of your offering. Look at the external factors that might impact your North Star metric, as well as the internal ones within your control.

Related: How to Keep Leaders Focused on a Company’s Most Important Metrics

Long ago, sailors turned their eyes to the sky to determine where they were going and what adventures awaited. In the same way, you can use your North Star metric to inform your product growth strategy no matter what the future holds.
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Nick Chasinov

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October 21, 2022
5 Ways Businesses Benefit From Having a Tech-Savvy CEO

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Opinions expressed by Entrepreneur contributors are their own.

In the digital age, you are either moving along with technology or being left behind by an entire industry. As everything is taking on a technological advancement approach, the best decision a board of directors can make for a company is to ensure the leadership is tech-savvy, or at the very least, can grasp these concepts quickly. The essence of a cutting-edge idea or innovation is its ability to solve existing problems that present a challenge for a large population. However, today, whatever innovative and people-conscious a company attempts to be, the cream of the crop is set apart based on its technical components.

Looking at it from the other end, a CEO whose only focus is on technology and coding cannot successfully run a business because while it has fresh technical concepts, it lacks other equally vital aspects of running a business. For instance, without marketing, well-coordinated and balanced finance and customer service, even with the best tech, a company will innovate only to maximize storage space. The bottom line is that a CEO needs to be well-versed in many different factions of business. However, in today’s world, a tech-savvy CEO significantly gives the company an upper hand in the market.

Since we have already established that technical know-how is a crucial component for visionary companies, our natural next step is to analyze any benefits a company enjoys by having a tech-savvy CEO:

Related: 6 Things You as a Leader Need To Know About Technology

1. Bridging generational gaps

A lack of the foundational skills that younger employees have learned might lead to a significant gap between management and staff, which could be problematic for the CEO and the direction of the business. According to Jay Leonard of Business 2 Community, millennials are stepping into employment with high expectations of how technology should be utilized. They can incorporate consumer app stores in their work to compensate for where older technology leaves a gap. With a tech-savvy CEO, the importance of such advancement is not lost. Communicating and understanding each other is more accessible when these tools are readily available.

2. Understanding what matters and what doesn’t

Technology continues to evolve every day. This can present a challenge for a CEO who is not tech-savvy. How? First, they will struggle to sift through what is available and necessary for their business. You cannot use everything available, and knowing what you require might be difficult when you don’t understand what each has to offer or what your company needs.

Secondly, the employment front might also suffer. You will need to know how to separate academics from fundamental skills and technical know-how. If the CEO’s technical skills are somewhat lacking, they will need an effective team in the tech department. This aspect of your business will be left for co-workers and employees to run. Essentially, even with their advice, it takes away the CEO’s decision-making capacity. While there is no problem relying on employees, the company’s future needs a CEO who knows the basics and can make unbiased decisions.

Related: Are Your Technology Decisions Helping or Hurting Your Employees?

3. Incorporating tech-based solutions

Technology can improve whatever it is — from your sales statistics to efficiency and productivity. When the phenomenon was examined, researchers discovered that many companies grow incredibly after incorporating tech-based solutions into their businesses. The tools required for this step are relatively accessible, but before you get to them, you will need a CEO with tech knowledge to give directives and choose to incorporate them into the organization. If a CEO lacks the expertise, the company suffers as well. For instance, accomplishing the company’s KPI will become more expensive if the CEO makes the wrong decision about which technical components to implement.

4. Creating sustainability

In this case, sustainability refers to a company that can stand the test of time and remains relevant for many years. Look at a company like Microsoft, which started in the 20th century, and how it managed to stay pertinent as one of the most successful software companies today. Almost every year, Microsoft unveils new technology. They have expanded their reach from software to include hardware, and while exploring their limits, they have kept up with developments in the tech world to maintain relevance. When cloud storage came about, OneDrive, Microsoft’s cloud storage, was brought into play.

The most sustainable companies that will continue to dominate the industry have technologically advanced CEOs. As times change and technology develops, they can make decisions for the business to usher it into the new era.

Related: How Technology is Evolving to Make Companies More Productive

5. Gaining a competitive advantage through the use of artificial intelligence

Machine learning algorithms will bear the immense task of sorting through terabytes of information every minute. Massive amounts of data collection will be meaningless without artificial intelligence-powered computational models. The CEO can therefore redirect the human resources to deal with more pressing and urgent issues.

Ilya Lipovich, Forbes Councils Member, believes that with this cutting-edge technology, firms can develop a long-lasting competitive edge that their rivals are unaware of. This feat alone could give a business a long-term strategic advantage that gives it a leg up over competitors.

While assuming that tech savviness is the only determinant for a good company CEO, it is also presumptuous and reductive since the many factions of the company also need governance and direction. At the same time, the digital age makes technological know-how an essential skill for the development, sustainability and rational decision-making that give a company its competitive edge.

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Steve Taplin

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October 18, 2022
What New Entrepreneurs Should Know Amid Rising Inflation

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Setting up a new enterprise can be both exciting and daunting. You’ll have a lot to think about, but one thing you may not have considered is the impact of inflation on your new enterprise. Open up any newspaper or watch any news report. The higher inflation rates are likely to be a talking point.

How should new entrepreneurs navigate their new business amid rising interest rates? Here are eight things you need to know:

1. Increased Prices

The first way inflation can impact new entrepreneurs is the increased prices in the marketplace. If you are a producer, you may need to budget for the higher cost of raw materials. You need to consider what you need to buy to make your items and look at the price of each component. With higher inflation rates, you could be paying 5% to 8% more for your raw materials, which you will need to factor into your pricing and business plan.

Even if you are not producing a physical product and instead offer services, your enterprise is not immune to the increased prices. You’ll need to consider the additional cost of heating, lighting, gas, and all the other essentials for your workplace.

Related: 3 Strategies To Protect Your Business From Inflation

2. Labor costs

Higher inflation will also impact wages. With the cost of living increasing, workers are more likely to demand higher wages to compensate for the disparity. If your enterprise employs a team or outsourcing any aspect of your business, you will need to look at your labor costs. If you cannot pay higher wages, you will need to anticipate staff attrition or pilfering, as found this study, which will impact your bottom line.

Another aspect of labor costs is the risk of a drop in employee productivity. If you’ve already agreed on rates for your team or freelancers, there is a chance that they will feel less motivated if you cannot increase their wages. This means that even if you keep your labor costs to the same level as your original business plan, you could suffer efficiency issues and produce fewer products, reducing your income/expenditure balance.

3. Currency fluctuations

Even if your enterprise is not a massive importer or exporter, it could still be hit by currency fluctuations. If you purchase raw materials or goods overseas or have overseas freelancers paid in local currency, you will likely find that your dollars don’t stretch as far. While you may have agreed on a rate with a weaker currency, you’ll be paying more. You will need to account for these increases in your enterprise cost analysis.

Related: Inflation Is a Different Beast for Entrepreneurs. Here’s How to Protect Yourself.

4. Borrowing limitations

Borrowing is also subject to the whims of inflation. Many lenders are aware of the increased risks within the market and will increase their rates. Additionally, the Federal Reserve uses interest rates to curb rising inflation. The Fed typically increases the base interest rate to address higher inflation rates and return them to optimal levels. Unfortunately, this rate increase is passed on to personal and business customers.

If you need to borrow funds for your enterprise, you may find that loans are cost prohibitive. Additionally, lenders may be more hesitant to offer loans to new businesses, so you may struggle to qualify with a limited financial track record.

If you already have a business loan for your enterprise and it is not on a fixed-rate deal, you will need to factor the higher interest costs into your expenses. Variable rate loans are subject to rate changes, so you are likely to have your lender contact you to let you know your new rate and when it will apply. This makes it very difficult to budget for your typical monthly expenses as your loan repayments could be higher from one month to the next.

5. Tips to lessen the impact of inflation on your enterprise

Fortunately, there are some things that you can do to lessen the impact of inflation on your new enterprise:

6. Reallocate your business capital

While having cash on hand is a good thing to address any issues that arise with your enterprise, when inflation rates are high, having lots of cash sitting around is not a good idea. The buying power of the dollar is reduced when inflation is high. Let’s say you had $10,000 last year that could buy X number of products. The following year, the same $10,000 would only cover the cost of fewer items.

This means you’ll need to think carefully about what to do with your business cash. If you don’t want to tie up your funds, as you may need access to them, consider a high-yield savings account or short-term bond. While this may not be as inflation-proof as the stock market or real estate, you won’t sacrifice liquidity.

7. Negotiate in the dollar

If you are outsourcing to freelancers or workers outside of the U.S., make sure that you negotiate rates in the dollar. Regardless of currency fluctuations, you will still be paying the same amount. This will eliminate some of the uncertainty, and it will allow you to budget for your costs.

8. Evaluate your expenses

Finally, evaluating your enterprise expenses is one of the most effective strategies to lessen the impact of higher inflation. Have a serious look at all your costs and operating expenses. There may be areas where you can make savings, so you can create a buffer to compensate for any increased costs.

It may be worth reassessing where and how you source raw materials. It may be able to find a better deal or set up a fixed-rate contract to protect against increased costs soon.

Related: 6 Ways to Protect Your Small Business From Inflation Pressure

While higher inflation is daunting, being prepared is the best possible defense against the potential rising costs. With a proactive approach, you can address the potential implications of higher inflation. This will allow you to continue your enterprise with minimal disruption and allow you to weather possible financial storms to succeed with your operation.

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Baruch Mann (Silvermann)

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October 6, 2022